Oil needs support

Brent oil tries to recover, but so far there are no bright arguments in favor of purchases. Brent barrel is traded at $ 92.58. Technically, on the daily schedule, Brent worked a decrease in the framework of a correction by $ 92.00 and may go up to $ 96.00. Then the purpose of recovery is to be updated by $ 100.90. Until the completion of trading on Wednesday, oil prices were reduced by all three trade days. From the point of view of fundamental factors, not so much negativity has accumulated, but positive did not appear at all.

OPEC+ previously unveiled updated expectations In demand for oil in the world. According to forecasts, in 2022 the indicator will decrease by 0.5 million barrels per day, in 2023 – by 0.4 million barrels per day. The deterioration of expectations is associated with a common degree of uncertainty and factors related to the consequences of pandemia.

fuel leakage from the Druzhba pipeline also became a minor factor for the oil market. The API, the American Institute of Oil, the night before, late for the day, presented fresh data on oil reserves. During the week, the indicator grew by 7 million barrels, this is bright A pronounced “bear” factor. The supplies of gasoline increased by 2 million barrels, the reserves of distillates decreased by 4.6 million barrels. Tonight, the US Ministry of Energy will release its calculations on this occasion.